The B2Gold Corp (NYSEAMERICAN:BTG) stock had been trading within a range on Wednesday and the non-action in the stock was understandable because there has hardly been any news about the company in recent times.
Trading Data
On Wednesday, BTG stock fell 1.66% to $4.15 with more than 13.72 million shares, compared to its average volume of 12.90 million shares. The stock moved within a range of $4.0750 – 4.1900 after opening trade at $4.16.
Earnings Recap
The last time B2Gold was in the news was back on May 3 when the company announced its financial results for the first fiscal quarter of the year. The company announced that it had managed to bring in gold revenues to the tune of as much as $366 million after having sold 195100 ounces of the precious metal. That was only slightly higher than the revenues of $362 million after having sold 202330 ounces of gold in the prior-year period.
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Hence, the marginal rise in revenues from gold sales was made possible by the rise in the price of precious metal. On the other hand, the cash flow for the period stood at $152 million and that was considerably lower than the cash flow of $171 million in the prior-year period. It was also announced that going by the first-quarter performance, B2Gold expects to bring in a cash flow of as much as $625 million for the full year.
Technical Data
BTG stock is trading below the 20-Day and 50-Day Moving averages of $4.18 and $4.42 respectively. However, the stock is trading above the 200-Day moving average of $3.99.
